Tesla Stock Rose After the Annual Meeting, Boosting Investor Confidence

Tesla Stock

Tesla Stock (NASDAQ:TSLA)

On Thursday, investors were still responding to some news that flowed out of the annual meeting. Tesla (NASDAQ:TSLA) continued to gently drift upward.

During the discussion, Elon Musk warned that Tesla is not exempt from what may be a difficult era for the economy and that increased pressure on consumers’ discretionary spending could be observed. Nevertheless, he also stunned everyone with a hint that Tesla would test out media advertising, and he brought attention to the fact that new models are now being developed.

Wedbush Securities analyst Dan Ives said that investors saw a revitalized Musk, who can now devote more of his attention and time to Tesla because he no longer serves as CEO of Twitter. Ives and the rest of the team are under the impression that Musk will continue to serve as CEO of Tesla for at least the next five years, with FSD, Cybertruck, worldwide manufacturing growth, and the creation of new models all serving as significant undertakings.

The company continued to recommend buying Tesla shares with an Outperform rating and a price target of $215. Although China is perceived as a wild card in the electric vehicle market, the aggressive price reduction and desire to promote are both seen as advantages for the juggernaut that is the electric vehicle market.

Analyst Adam Jonas indicated in the post-meeting breakdown on Tesla that Morgan Stanley anticipates up to 10 distinct model shapes by the decade’s end. Jonas made this statement in Morgan Stanley’s post-meeting analysis. According to Jonas’s observation, “We estimate that Tesla’s current model lineup (S, X, 3, and Y) address no more than 15% of the US market segments, ” meaning that over 85% of light vehicle, categories remain entirely ignored.

Morgan Stanley now rates Tesla stock as Overweight, and the firm has set a price objective of $200.

During the middle of the trading day on Thursday, Tesla stock increased by 0.45%. Over the last week, Tesla stock prices have increased by close to 4%.

Featured Image: Unsplash @ Tesla Fans Schweiz

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